Gulf crude exports jump in July

Even after the rebound, exports remained about 32% below February's pre-war peak of 17.6 million bpd

An interim accord between the US and Iran unraveled in early July over disagreements about the administration over the Strait of Hormuz. 

Gulf countries boosted crude oil and condensate exports in the first half of July to the highest levels since before the Iran war began in late February, shipping data showed, although flows through the Strait of Hormuz are now slowing as fighting escalates.

Crude and condensate exports from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran rose about 16% from the whole of June's daily average to 12m barrels per day (bpd) in the first half of July, Kpler data showed.